How do you promise people to pay money on time with crypto? I faced this problem.

[zhoutong 2188]

When I promise people money I pay back what I owe and I don't think that I would ever tell them that I had the money in Bitcoin and price is now lower so I'm going to send them lower than what I promised. Doing that makes you untrustworthy. If you were planning to pay with Bitcoin then you should have promised 0,0034BTC instead as you calculated it.

Edited November 11, 2020 by zhoutong

[melikf78 987]

Well btc price is not predictable and at this time btc price increased and it will be better for u if you didn't pay him yet but to avoid this kind of problems maybe you should pay him with a stable coin like usdt.

[Razan alikac 1899]

Often in our present time, when we borrow from any friend or person .. He is obliged to lend us in a certain currency, for example the dollar, and that the dollar be fulfilled lest he lose.
 When we are obligated by the debt, we must commit ourselves to fulfilling it as we committed ourselves to it.  Or should we not borrow at all because we are always subject to price change and loyalty more than we borrow.

[hasaan 289]

Deal with the btc is little bit complicated if you promise anyone about the btc, cause we all know that the coins of the btc is little bit unstable and anything can happen with the price of the coins. So commitment with the price of the coins and  the crypto is much unrealistic. 

[cryptovlek 2597]

You don't know that price of Bitcoin is not stable? You should have that in mind and if you make a promise to always keep it. This was your mistake that you didn't sell or put into tether this money and rebuy when you were ready to send.

[Johermi 1170]

If I understand you, it is all due to the volatility of the market but instead of lowering the price, Bitcoin World have risen, which would have been damaged, you are, tha is normal for currencies to behave like this 

[Brushless4500KV 4214]

28 minutes ago, azahar001 said:

-  I just want to say, when you have to pay someone according to a deadline, you can't trust cryptocurrencies because sometimes you have to pay more or less than the amount specified..... If you want to pay anyone just pay immediately at time of dealing....!!

In general, your theory is true but if the person who wants to receive your fund, is a crypto user and is completely aware about it then you can pay him in any coin you like because he understands the fast volatility of the market. However, if your receiver has no clue about cryptocurrency, it is better to pay him in cash to avoid any possible argument after payments. Otherwise, you have to sign an agreement for every transaction!

[1qDan 478]

The solution may be that when offering a means of payment the rate is in USDT, so you can ensure some stability, however the best option is to set a price in bitcoin or in the cryptocurrency they want to use to avoid this type of drawbacks, another option is to pay immediately.

[Mella 3680]

Price dropped during the transfer? This is seem bad. There are some laws about commerce that deal with similar issues. If I am remember correctly the price is about what was agreed but this is Bitcoin so you are have to deal in Bitcoin terms with it. It is very strange to had this bad timing and I am really not think that I would blame you on the position of the other person. You were nothing on purpose and send the money in good faith and when you send it was $30.

[Rosarvx 965]

definite outcome and in case of next time you people should choose a stable coin, better don't promise to give money and then pay through BTC

[guatazoo 7150]

On 1/21/2020 at 9:47 AM, Brushless4500KV said:

Some days ago, I promised one of my friends to pay him $30 for something I bought from him. I wanted to pay him through bitcoin. When I promised him, bitcoin price was $9000 and I calculated the amount to be 0.00334 BTC. Today, I should pay him the money but bitcoin price has decreased to $8.7K! Now, I have to earn more bitcoin to be able to pay him $30.

Volatility can cause prices to go higher and benefits you but sometimes it can cause problems like this. How do you promise other people to pay them on time when you can't predict prices? Maybe the solution is to not specify any deadline for payment. The other solution is to pay them in BTC not USD.

How do you cope with this problem?

Its very risk to borrow in cryptocurrencies or to lending in cryptocurrencies, so thats we have to borrow and lending through stable currencies or fiat currencies. 

[Rozy 1918]

You are totally right , and that is why t is not wise to borrow or lend money in Bitcoin because the prices are changing constantly and this will make problems between people, you have to agree on a fixed amount of money to be paid in order not to suffer from disagreement.

[Amna Hareem 1213]

On 1/21/2020 at 11:47 AM, Brushless4500KV said:

Some days ago, I promised one of my friends to pay him $30 for something I bought from him. I wanted to pay him through bitcoin. When I promised him, bitcoin price was $9000 and I calculated the amount to be 0.00334 BTC. Today, I should pay him the money but bitcoin price has decreased to $8.7K! Now, I have to earn more bitcoin to be able to pay him $30.

Volatility can cause prices to go higher and benefits you but sometimes it can cause problems like this. How do you promise other people to pay them on time when you can't predict prices? Maybe the solution is to not specify any deadline for payment. The other solution is to pay them in BTC not USD.

How do you cope with this problem?

Your re right dear many people face tho problem because bitcoin price are always changing I faced this problem I want to buy a thing when I calculate my money its OK for me anf I can easily buy that thing but when I want to withdraw my money than bitcoin price was low so like this I faced problem but now I quickly sell the bitcoin when its price is on high. So now I am free with this problem.

[Nupeboy 627]

The best option is for you not to give them any date because if you promise them any date and you did not get the money their is going to be a problem is better you should not give date 

[yonkii 3205]

This is very bad, must be very unlucky. The volatility of price can create these problems, but I think it should be that when you send the money and it is exactly $30 then it shouldn't matter if price dropped later. But the other person may think you tried to send lower. Very bad to know about this and make me wonder what we can do about it. The time of the transaction when you initiated is shown so you should show that to the other person. Bitcoin price is not stable so you did fine from your part.

[Khan 1414]

On 3/8/2020 at 10:38 PM, Efs said:

The answer is simple, I don't borrow money from people in order to not make my payments as bitcoin, or I buy them at the dollar price. if If I do BTC indexed I will hurt at the end 

Borrwing from people for crypto is the worst idea as the crypto market is very risky and you can sure that you will earn profit from it. Taking risk like will make you only loss.

[koynayak 1923]

If you promise that you're gonna give him 0.0034 btc you have to give those amount as a bitcoin doesn't matter the bitcoin price. I think you shouldn't pay something with using bitcoin. You can use tether or any other stable coins. I think this is the most important reason why shops  don't want to use bitcoin because price is very volatil.

[Roan 2166]

You should have transferred your Bitcoin immediately, due to the huge price fluctuation, so you cannot guarantee the stability of prices

This problem does not have a clear solution, but you can convert Bitcoin to usdt when Bitcoin prices are high in order to ensure that you do not suffer losses due to low prices.

[Robert William 590]

I haven but there has been sometime I have not been able to make something out of what I had in the market of crypto , though to me it became the expensive transfer system so to me I lost everything there is a lot of good that we have to work with its the best effort we need to follow we need to use ripple its really one of the best effort we have out there

[Arslan Ch 2163]

If you are not a trader and doesn't want to hold your BTC for more profit then You should immediately trade it into USD and pay Your friend at the promised day or You should deal with him to give gim BTC rather than USD as Cryptocurrency has a volatile market and wecan never rely on its price as it fluctuates every time.

[Kanji 965]

Thats very true , there is a lot of things to which really interfere with the use of crypto currency and this is the volatility and so to me its important to find a powerful source of what we are working on there is a lot of good that comes with it and can be a lot of power behind this and we need to find and file the power that is easy to define that source of it there is a lot of work to be done to accpet payment, its really important we work with it

[David84 1191]

This is really a social problem and it causes disagreements between family and friends but yo are mistaken because you borrowed in a currency that is known to have fluctuations, when you want to borrow you should choose something that does not change value a lot like USD or Gold for example or you should agree that there might be loses. 

[Garion hirao 550]

This is one of the problem and limitation of crypto currency in implementing it as a global crypto currency. I guess we avoid using crypto currency in this type of transaction in which the product is only applicable in stable prices because the value is unpredictable. But all in all in a perfect timing, crypto currency is the best way in buying goods

[Michar1 1693]

In these aspects, I prefer not to borrow money, it is something that I do not like and that I do not consider, which is something reasonable, but if I borrowed money I would prefer to ask for it and pay it through fiat money, since only then is it lost the risk of volatility.

[susan8929 811]

Hello, my friend. The truth is that volatility is one of the main qualities of Bitcoin, but it's also possible that sometimes it's a disadvantage.
When I'm going to send a btc payment on a specific day, what I do is exchange my satoshis for USDT and thus protect myself from the volatility of Bitcoin in order to send my payment. Of course, this can also be counterproductive, because the price can go up, but I prefer to make sure and not lose satoshis.